Propulsion International to Provide Engine Finance and Maintenance Solutions for TPE 331-12JR Caravan Conversions

Colorado Springs, CO -- July 23, 2012-- Propulsion International (PI) has announced  that it will  provide financing as low as 5.5% for Cessna Caravan operators who choose to retrofit their airplanes with Honeywell TPE331-12JR powerplants -- and will offer its Group Maintenance Plan (GMP) coverage, as well. 

“Up to 100% financing is available for this turn-key conversion package, including acquisition, installation and STC certification of the more efficient and powerful TPE331-12JR on the Cessna 208 turboprop, and operators can reduce their payments even further by using the core value of the removed engine as a deposit,” said Chad Ahrens, Chief Executive Officer of Propulsion International.

The Honeywell conversion will provide lower operating costs through operational performance and efficiency gains.  In addition, PI’s GMP offers the risk protections and further cost reductions typical of a tailored maintenance plan by reducing unscheduled service and, for some operators, nearly doubling time between overhaul (TBO) intervals.  “PI’s GMP Finance plans allow operators to convert their airplanes with very little out-of pocket-costs.  They’ll not only save money on the conversion itself, but will experience operational savings by capitalizing on the higher performance and greater efficiencies on an ongoing basis.”

Since Propulsion International’s GMP is a Honeywell backed program, the TPE331-12JR Caravan conversions will be accomplished at facilities authorized by the STC holders.  Each GMP-enrolled engine is assigned a serialized account within Honeywell which ensures that all  future maintenance can be preformed at the operator’s choice of any Honeywell authorized service center worldwide.                                                                  

About Propulsion International

Propulsion International provides GMP programs on Honeywells TPE331-10, -11, -12, -14, and -10 conversions. With anytime enrollment, GMP is a full coverage maintenance solution, customized to meet the operator/owner requirements. It reduces the out-of-pocket costs for operators initial maintenance, conversion, or retrofit, is fully backed by Honeywell and its Authorized Service Center Network. It provides benefits similar to those of Honeywells Maintenance Service Plan (MSP) for its turbofan products, financing alternatives, and reduces downtime for maintenance with its engine exchange option, all at competitive prices. In addition, the Group Maintenance Plan incorporates a path for inspection interval extension for Part 91 operators, adding significantly to aircraft values. Programs are individually tailored to meet operator requirements and feature a unique "sunset" account where the unspent scheduled reserves are returned at contract termination or GMP can be transferred to the new owner at aircraft sale.